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Oldham, Incorporated conducts business in State M and State N, which both use the UDITPA three-factor formula to apportion income. State M's corporate tax rate

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Oldham, Incorporated conducts business in State M and State N, which both use the UDITPA three-factor formula to apportion income. State M's corporate tax rate is 4.5 percent, and State N's corporate tax rate is 7 percent. This year, Oldham had the following sales, payroll, and property (in thousands of dollars) in each state: Oldham's before-taxincome was $3.30 million. Compute Oldham's State M and State N tax if State N uses an apportionment formula Required: in which the sales factor is double-weighted. Note: Pound all apportionment factors to 4 decimal places, e.g. 47.15\% would be 0.4715 . Enter "Apportionment percentage" and "Tax rate" in decimals and not in percentage. Do not round any intermedlate values. Enter your answers in dollars and not in militions or thousands of dollars

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